Political Framework
It is energy which dominates the covers of many newspapers. Energy tackles politics of economics, of the environment and the infrastructure as well as those of research and foreign affairs. In the meantime energy has become a top priority issue in many countries and is being managed directly by the head of state. How is the policy framework to be set, if so many developments are still unclear?

Investment Risks
The investment needs for grids and generation capacities are clear. In a liberalized environment the marked oriented energy companies are obliged to present short term oriented rate of returns. However, investments in the energy sector are of long term nature. So how can energy companies restructure the energy systems while the frame conditions keep on changing drastically and how can they equally guarantee reasonable profits for their stakeholders?

Geopolitical Dimension
In spite of all hopes, energy consumption is increasing regionally as well as globally; this is true for the traditional demand centers of the industrialized nations, but also for the transitional and developing countries. Energy is a precious and scare good, which causes conflicts both in the countries providing natural resources and in the consuming regions. To address these issues, is a global trading scheme a good solution or is energy autarchy the way forward?

Technology Risks and Chances
The growing demand for energy services requires technological innovations which produce the same service using only a fraction of the primary resources required otherwise. If one trusts the recent IPCC reports on the global environmental state of earth, then these have to be implemented immediately. Are there technical solutions for the years to come already available or do we have to hope for the technological breakthrough and wait?

Risk of Producer-Consumer Interaction and Legislation Framework
The consumers, especially the large consumers, are confronted with the most difficult situation at the very end of the contract chain. New ways of producer-consumer dialogue are required. They have to deal with a variety of risks: energy supply security, energy prices, environmental costs and changing market mechanisms, as well as the vulnerability of exposed infrastructure components. Which are the criteria according to which managers and consumers take their investment decisions today, how do they deal with these risks?

Financial Risks
Since the liberalization of the energy markets, the methods and tools of finance are also being applied in the energy sector. This concerns the methods of risk management, asset management, commodity trading, bidding of power plants, price processes an the risk assessment of optional energy contracts. Where are the special risks of the energy sector located and at the same time, where are the opportunities?

Risks and Chances of Innovation
The ambitious political targets can not be met with the currently available technologies. Neither the 50% reduction of greenhouse gases agreed at the G8 summit in Heiligendamm last summer nor the 20-20-20 goals of the European Commission or the targeted increase of the share of renewables in Austria to achieve 45% will be achievable with the traditional technology portfolio. Research support is required, but how to do it?

Efficiency and Life Style Risks
Energy efficiency is the magic key word for achieving unspecified but ambitious targets in the environmental field. The term “efficiency” has not yet been properly defined. Energy efficiency should close the energy supply gap, improve the comfort and resolve climate issues. What is energy efficiency? Who is responsible for it? Where are the feasible and physical limits? Do we risk giving up our modern life style?